Vanguard CEO Tim Buckley plans to invest more in the company’s financial advisory business, using technology to compete but also eventually offering other advisers access to that technology to grow their own businesses.

The SEC approved Precidian Investments’ version of actively managed ETFs that disclose their holdings less frequently. That’s good news for firms like Legg Mason, BlackRock, and Capital Group, which signed on with Precidian. The rest of the industry? Not so much.

The SEC has granted a “soft approval” for ActiveShares, which is Precidian’s structure for actively managed stock ETFs that don’t have to disclose their holdings as regularly as ordinary ETFs do. This is good news for the industry, but is it good for you?